{"id":54893,"date":"2022-05-25T07:14:31","date_gmt":"2022-05-25T15:14:31","guid":{"rendered":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2022\/05\/25\/new-jersey-marijuana-sales-reach-24-million-in-first-month-of-adult-use-market-launch\/"},"modified":"2022-05-25T19:46:14","modified_gmt":"2022-05-26T03:46:14","slug":"new-jersey-marijuana-sales-reach-24-million-in-first-month-of-adult-use-market-launch","status":"publish","type":"post","link":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2022\/05\/25\/new-jersey-marijuana-sales-reach-24-million-in-first-month-of-adult-use-market-launch\/","title":{"rendered":"New Jersey Marijuana Sales Reach $24 Million In First Month Of Adult-Use Market Launch"},"content":{"rendered":"<\/p>\n

\u201cIt\u2019s really only a beginning, and I think it shows that there\u2019s a lot of growth left in this market.\u201d<\/em><\/p>\n

By Sophie Nieto-Mu\u00f1oz, New Jersey Monitor<\/strong><\/p>\n

One month into the\u00a0nascent cannabis industry\u2019s launch<\/a>, consumers have purchased $24 million in recreational marijuana, regulators said during a meeting Tuesday where more permits for dispensaries were approved.<\/p>\n

Another five medical-only dispensaries will soon be able to start selling adult-use cannabis, joining the 12 dispensaries that started selling recreational marijuana on April 21. The new locations will be Garden State Dispensaries in Woodbridge, Union, and Eatontown; The Apothecarium in Lodi; and Ascend in Montclair.<\/p>\n

\u201cIt\u2019s really only a beginning, and I think it shows that there\u2019s a lot of growth left in this market,\u201d said Jeff Brown, executive director of the Cannabis Regulatory Commission, which oversees the state\u2019s marijuana market<\/a>.<\/p>\n

The $24 million in sales<\/a> at the 12 dispensaries that can sell recreational cannabis\u2014a 13th location didn\u2019t get final approval until two weeks ago\u2014is lower compared to other states.<\/em>\u00a0In Arizona, which launched its market at 73 facilities, the state reported $32 million in sales in the first full month the market was open.\u00a0In New Mexico, which launched in April with at least 100 stores, sales reached nearly $40 million.<\/p>\n

New Jersey dispensaries brought in about $5 million each week total. The commission expects that number to balloon as more\u00a0licenses are approved.<\/p>\n

A total of 46 conditional licenses were awarded at Tuesday\u2019s meeting: 22 for cultivators, 13 for manufacturers, and 11 for recreational retailers. Four testing labs were also approved to begin operating.<\/p>\n

It\u2019s not clear when the recreational retailers can begin sales. There are still local regulatory hurdles for owners to clear.<\/p>\n

The commission also removed the \u201cmedical only\u201d rule for licenses it awarded in the 2019 application cycle, which means instead of operating at least one year as a medical dispensary, licensees need only to prove they have enough supply for both medical and recreational demand.<\/p>\n

Brown said the commission will issue quarterly reports starting next month on the number of licensees who are people of color, women and veterans. The state\u2019s marijuana law requires those groups comprise 30 percent of licensees.<\/p>\n

The commission\u2019s next meeting is scheduled for June 23.<\/p>\n

This story was first published by New Jersey Monitor.<\/em><\/a><\/p>\n

\n

Georgia Voters Approve Marijuana Legalization Ballot Question<\/a><\/p>\n<\/blockquote>\n

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The post New Jersey Marijuana Sales Reach $24 Million In First Month Of Adult-Use Market Launch<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n


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\nRead More: New Jersey Marijuana Sales Reach Million In First Month Of Adult-Use Market Launch<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cIt\u2019s really only a beginning, and I think it shows that there\u2019s a lot of growth left in this market.\u201d By Sophie Nieto-Mu\u00f1oz, New Jersey Monitor One month into the\u00a0nascent cannabis industry\u2019s launch, consumers have purchased $24 million in recreational marijuana, regulators said during a meeting Tuesday where more permitsContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":457,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1335],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/54893"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/457"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=54893"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/54893\/revisions"}],"predecessor-version":[{"id":54894,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/54893\/revisions\/54894"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=54893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=54893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=54893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}